(CercleFinance.com) – The New York Stock Exchange is up slightly on Monday, in a market that is sluggish due to a lack of driving forces but which is continuing its favorable momentum from last week.
At the end of the morning, the Dow Jones gained 0.1% to 34,111.9 points, while the Nasdaq Composite gained 0.4% to 13,532.5 points.
Buoyed by the Fed’s more patient attitude, the major New York indices climbed from 5.1% to 6.7% last week and signed their best weekly performance since the start of the year.
After these strong scores, the good news now seems well integrated into prices and investors are struggling to find reasons to go higher in the absence of economic indicators or leading results.
If the results season is now coming to an end in the United States, stocks could retain support linked to better-than-expected publications.
A few laggards such as Disney and Uber have planned to present their quarterly accounts this week.
According to data published by FactSet, 82% of S&P 500 companies that have so far published their quarterly accounts have done better than expected, compared to an average of 74% over ten years.
In terms of indicators, the rare publications planned this week will concern the trade balance, wholesale stocks and weekly unemployment registrations.
In the immediate future, oil prices are recovering after their heavy decline in recent weeks, with the December contract on American light crude (West Texas Intermediate, WTI) gaining 1.3% above $81.5 per barrel.
On the value side, Paramount Global fell by more than 7% after a downgrade to ‘underperformance’ from BofA, which considers that the stock is of little interest in the absence of asset sales.
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